In the present phase, both centralized and decentralized exchanges still play distinct roles in the crypto market. The current user experience on centralized exchanges is poor, while a decentralized environment is still too difficult to control. A decentralized, truly revolutionary exchange will be the end of centralized exchanges.
In consideration of these problems, FCoin launched their decentralized exchange with the unique concept of ”transaction fee mining.” Prominent projects are now interested in listing on the FCoin platform thanks to the low fees. FCoin’s innovative model has sparked a new wave of interest in the crypto community, and other exchanges are starting to follow suit.
So how does FCoin lead the revolution with their concept of ”transaction fee mining”?
The main difference between the structure of FCoin’s ”tokenomics” and traditional incentive mechanisms is the reversal of the production relationship. Under the traditional business model, the relationship between the platform and its user is antagonistic because the goal of a commercial organization is to make money. In contrast, FCoin changes the structure of this relationship. The trader not only becomes a user of the platform but also contributes through fees and transactions. At the same time, the trader enjoys a 100% refund of their transaction fees in the form of exchange ”shares”- FT. However, the FCoin income distribution model is by far the most revolutionary aspect. FCoin directly distributes 80% of its revenue to its users on a daily basis. This tokenomics model will surely provide the platform with vitality for years to come.
Another aspect of FCoin’s tokenomics is removing shortcomings in the form of outsourcing. An example of this is FInsur. The idea is that empowering professionals to do what they are good at is more conducive to the ecosystem. Several institutions are investigating blockchain insurance models, but nothing is widely adopted at this time. FInsur is one of the very first insurance communities in the blockchain space.
The concept of ”insurance through mining” is quite simple. It is similar to the concept of FCoin’s ”transaction fee mining”, which dictates that clients and users of the exchange are traders. As the core of their token economy, FCoin unites their exchange with its users and treats traders as shareholders. Likewise, FInsur enables insurance applicants to become shareholders of the insurance company. ”It’s hard to imagine vehicles on the road without insurance,” said FCoin founder Mr. Zhang Jian, ”that’s why there is insurance like Compulsory Traffic Insurance and commercial insurance that we must pay. It also applies to our digital currencies and assets.” As such, FInsur will be a benchmark for innovation in this industry and provide numerous benefits.
FCoin has a dynamic, innovative, and self-motivated team. The launch of the Growth Project Market (GPM) has attracted many projects, and the competition was more fierce than expected. FCoin responded calmly to this situation and consequently proposed an innovative solution by introducing FOne. FOne was created primarily to solve problems encountered in the GPM, such as long wait lists for listing and platform capacity. It became time consuming to verify the authenticity of the listings requests. In order to make the mechanism more efficient, FOne was created to allow FCoin certified organizations to screen quality projects. Every certified organization has its own zone which has the right to list tokens and set its own listing rules. FCoin provides service and technical support these certified organizations. This relationship will guarantee the healthy growth of FOne. Since these trading zones are operated by certified organizations, they have a responsibility to guarantee the quality of the listed projects. In addition, FCoin retains the right to review and verify the performance of these certified organizations.
In addition to FOne, both FCandy and FT808 are used to incentivize FT holders as well as protect the rights of community members. In the future, regardless of market conditions, FCoin will continue their model of ”transaction fee mining”, and maintain the proportion of transaction fees returned. This is FCoin’s determination as a revolutionary exchange leader.
As mentioned in FCoin’s recent announcement, FCandy is an asset pool containing a variety of assets. FCandy will be issued according to set proportions to guarantee its real asset value. However, the assets placed in the FCandy pool no longer belong to the contributors but instead belong to the entire community, which makes FCandy vitally different from other asset pools. Although FCoin has designed various mechanisms to distribute FCandy to its community members, it does not mean that FCoin no longer provides returns in FT. All transaction fees will continue to be fully returned in FT; this is a ground rule which will not be changed.
In summary, it is not easy for traditional exchanges to reinvent themselves. FCoin’s innovative model has broken the traditional pattern and put this exchange in the spotlight. FCoin’s frequent announcements strongly demonstrate their determination to reform the relationship between exchanges and their users. So long as FCoin is committed to the original idea of decentralization, the introduction of new concepts, rules, and creative tools is not done to confuse users but to challenge the idea of the exchange itself and revolutionize the industry. As more users support FCoin, the FT token will become more valuable, and the impact of FCoin’s model will be felt by a wider audience.